Hi!
How do I correct a posted sales order where I have included a revenue recognition? If I credit the sales order will the revenue recogntion also be reversed?
Br
One of our user has posted future revenue on with current transaction date. Now we need to reverse that Recognition Journal?
Any way to reverse the journal so that revenue schedule will be reinstated.
We have already tried reversal entire journal functionality on Rev Recog. Journal however system is not creating reversal entry.
Please suggest??
Thank you Junaid!
Hi Amdetegb,
What D365 version are you using? There is no specific parameter setting to reverse recognized revenue automatically. Just create negative sales order and post invoice, system will create negative deferred revenue schedule. Goto revenue recognition schedule screen and click on create journal. It will create reversel deferred revenue journal with Debiting revenue account and Crediting deferred account.
Original order deferred entry:
DR: Deferred revenue
CR: Revenue
Reveral Order deferred entry:
DR: Revenue
CR: Deferred Revenue
Hope it helps.
I do not think so it will reverse the schedule automatically, may you can manually delete/reverse the posted schedule.
Since this is an new feature, you can raise ticket to MS and ask for the help.
Yes, the revenue recognition is posted seperately. Just tried crediting a sales order but the corresponding revenue recognition schedule was not reveresed along with it. Maybe it could be a parameter setting that is missing here?
Hi,
Revenue recognition schedule is posted separately? so not sure it will reverse automatically but it might create the schedule with reverse schedule.
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